EXCLUSIVE: Gerry Barrett and his personal guarantee problem

Developer's assets now valued at just €60m

Ian Kehoe - avatar

Ian Kehoe

14th September, 2017
2
The Meyrick Hotel, part of the portfolio, was built in 1852

Gerry Barrett, the property developer and hotelier currently battling to save his empire, is on the hook for personal guarantees totalling hundreds of millions of euro.

Documents show that Barrett gave personal guarantees for almost all his borrowings, a move that now leaves him significantly exposed as the value of his assets comes nowhere near his boomtime borrowings.

Barrett is currently battling to save Meyrick Hotel, the five-star G Hotel and Eye Cinema in Galway...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

EY reports €393m revenues in Republic of Ireland for 2021 financial year

Content is king – just ask Netflix as rivals attempt to steal its crown

Tom Maguire: Tax changes we make now could help business for years